8. Conclusion
8.3. Limitations & Future Research
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to go global and upgrade R&D and innovation capabilities. China’s continuous rise in various industries despite ignoring established rules of free market capitalism indicates that Porter’s idea of the role of government may retrospectively be based too much on idealistic free market assumptions and a Western mindset of government. As a Socialist Market Economy under the rule of the CCP, the business environment in China differs from free market economies as it is driven by and depending on the direction provided by the Chinese government. While Beijing gradually decreased its involvement in the telecom equipment industry, it continues to write its own capitalist rules. Firstly, Beijing demands foreign MNCs to establish JVs with local firms in selected areas and controls the import and export of capital to prevent foreign entities from transferring their revenues out of China. Secondly, the
Chinese government limits the convertibility of the Chinese Yuan and does not submit to the law of free exchange rates to retain the ability to use the Yuan as a potential trade weapon.
8.3. Limitations & Future Research
This study merely analyzed the national competitive advantages of China’s
telecommunication equipment industry and the impact on Huawei’s performance. It lacks universality in its applicability to other industries in China, particularly in regard to the role of government in economic development and impact on competitiveness. Hence, more case studies are necessary to determine whether China’s particular approach to economic
involvement and selective support of national champions generally facilitates the creation of sustained advantages. The similarities in terms of government support of selected national champions among East Asian countries, raises the question whether this phenomenon is related to cultural similarities.
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The negative reputation of Huawei and other Chinese telecommunication equipment vendors in the United States dampens their global success. Given the sensitive nature of
telecommunications and Huawei’s connection to the government, the company must convince the public and the U.S. government that they do not pose a threat to national security and privacy if they want to establish themselves in the U.S. and truly become world leading premium brand. How they can overcome these issues in the context of China’s relationship with domestic companies is something future studies should address.
Furthermore, the two major government initiatives - Made in China 2025 and OBOR - are likely to spur the demand for Chinese telecom equipment in and outside of China. How these initiatives will affect the long-term stance of Chinese telecom equipment vendors on the global stage should be subject to future studies.
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Appendix 1: Top 5 Telecom Equipment Vendor by Revenue 2016 - 2017
Appendix 2: Telecom Equipment Vendor Net Income (2014 – 2016)
0
Cisco Ericsson Huawei Nokia* ZTE
Top 5 Telecom Equipment Vendor by Revenue 2016 - 2017 (in US$ billion)
2016 2015
Source: Company Income Statements
*Merged with Alcatel-Lucent in 2016
-2
Cisco Ericsson Huawei Nokia* ZTE
Telecom Equipment Vendor Net Income 2014 - 2016 (in US$ Billion)
2016 2015 2014
Source: Company Income Statements
*Merged with Alcatel-Lucent in 2016
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Appendix 3: VoIP and IMS Equipment Global Revenue Share